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Accounting-for-Decision-Makers

Practice WGU Accounting-for-Decision-Makers Exam Questions

1. Page: 1/14
  Total 69 Questions
Question No 1

Which events represent financial information recorded in the accounting system of a business?

Choose the Choices:

Business events that are likely to occur in the future

Business events that have already occurred

Personal events of each business owner that are likely to occur in the future

Personal events of each business owner during a year

B
Question No 2

Which information does a balance sheet provide about a company?

Choose the Choices:

Revenues and expenses for a period of time

Cash collections and cash expenditures at a specific point in time

Assets and liabilities for a specific point in time

Cash collections and cash expenditures for a period of t ime

C
Question No 3

Which user group of financial statements evaluates the ability to repay loans?

Choose the Choices:

Management

Investors

Lenders

Suppliers

C
Question No 4

Which organization establishes rules U.S. companies use to record and report accounting transactions?

Choose the Choices:

Accounting Principles Board

Securities and Exchange Commission

Financial Accounting Standards Board

Internal Revenue Service

C
Question No 5

Which body regulates a certified public accounting firm’s audit practices when the firm is auditing a large, publicly traded company?

Choose the Choices:

The Financial Accounting Standards Board (FASB)

The Financial Accounting Standards Advisory Council (FASAC)

The Internal Revenue Service (IRS)

The Public Company Accounting Oversight Boar d (PCAOB)

D
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  Total 69 Questions
  
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